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Source: European Central
Bank Being in Madrid, let me quote Miguel Cervantes, one of the greatest Spanish authors of all times, who once wrote that “Time ripens all things, and no man is born wise”. This quotation somehow promises that over time we have the opportunity to gain wisdom. A key “wisdom” coming from the recent crisis is that only markets
that are efficient and innovative but at the same time stable are the
foundation for sustainable growth. In Europe, we, therefore, need to
strengthen the foundation for growth by increasing the efficiency and
competitiveness of the economy with at the same time ensuring financial
stability. Integrated European markets, in the real and financial
sector, are best placed to promote innovation and foster growth. So
indeed, the time is ripe to reap the benefits of the integrated European
market and to foster innovation. Using these assets, Europe can rise up
from the experienced economic crisis even stronger than before.
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